World Bank Approves $425m for Eastern, Southern Africa

By Kestér Kenn Klomegâh It all began in March 2023 with an ear-deafening applause during the inter-parliamentary conference under the theme ‘Russia-Africa in a Multipolar World’ that was held in Moscow. Russian President Vladimir Putin offered what was then referred to as ‘no-cost deliveries’ of grains to six African countries. This unique promise was consolidated and renewed during the second Russia-Africa summit held in St. Petersburg. Russian media, with its highest public-oriented reports and propaganda narratives, keeps on informing its public that Russia feeds Africa and its 1.4 population. Under the auspices of the State Duma of the Russian Federal

By Kestér Kenn Klomegâh The 17th Toronto Global Forum was held under the theme Fostering Economic Resilience from October 11-13, 2023, in Toronto Canada. According to reports, the forum gathered over 170 speakers and more than 3,000 attendees from all over the world. The central themes at the Toronto Global Forum revolved around the global economy, infrastructure, finance, innovation, energy and sustainable development. Through its ability to foster connections and collaboration, the Toronto Global Forum stands as an exceptional and distinctive platform bringing together decision-makers from all spheres of society to tackle the most pressing issues of the changing times.

By Kestér Kenn Klomegâh South Africa prepares to host the African Growth Opportunity Act (AGOA) forum to review critical challenges and obstacles adversely impacting trade opportunities and economic cooperation between the United States and Africa. The United States first introduced the African Growth and Opportunity Act (AGOA) in 2000. It is the 20th AGOA forum scheduled from November 2 to 4 in Johannesburg, South Africa. The AGOA Trade and Economic Cooperation Forum seeks to expand and deepen trade and investment relationships between the United States and Sub-Saharan Africa. It also encourages regional integration and further reaffirms Africa’s position as a

By Adedapo Adesanya A cross-border fintech company, Grey, has embarked on a significant global brand rebranding initiative, revealing a fresh logo and website design as part of moves to expand its footprint in the global market. The company’s transformation was unveiled on its social media platforms on Monday, November 27, 2023, and follows closely on the heels of Grey celebrating a milestone achievement of surpassing 500,000 users. Grey, which was founded in mid-2020 by Mr Idorenyin Obong and Mr Femi Aghedo, aims to leverage this fresh identity to reach a broader audience and solidify its international presence. The updated brand

By Adedapo Adesanya The value of the Naira depreciated against the US Dollar at the black market segment of foreign exchange market on Thursday, April 16. During the session, the local currency weakened by N1 to trade at N416/$1 in contrast to N415/$1 it traded at the parallel market on Wednesday. Also, at the same market, the domestic currency crumbled against the Euro by N5 to sell at N435/€1 in contrast to N430/€1 of the previous session, while against the Pound, the Naira closed flat at N495/£1. Meanwhile, at the Investors and Exporters (I&E) segment on Thursday, the Nigerian currency

By Modupe Gbadeyanka One of the leading drivers in e-payment system, Unity Bank Plc, has flagged off the Season 2 of its Unity Verve for Value Promo, which offers to give out cash prizes and other material rewards to customers and verve card holders of the bank. The Season 2 offer is a set of incentives that have been packaged as a reward scheme for deserving customers and active users of the verve debit card on electronic platforms such as POS and WEB. A statement from the bank quoted the Managing Director/CEO of Unity Bank Plc, Mrs Tomi Somefun, as

By Dipo Olowookere Over the weekend, the Central Bank of Nigeria (CBN) announced the downward review of some fees charged on transactions carried out by customers of banks and others operating in the financial sector of the country. While many consumers have applauded the industry watchdog for this move they described as laudable, which is majorly aimed to deepen financial inclusion in the country, some analysts have said it could ‘spell doom’ for the financial institutions because what they usually generate as income may be greatly affected when the changes become effective. Commenting on the issue, United Capital Research said

By Adedapo Adesanya The Paediatric Association of Nigeria (PAN) has said that the nation is losing its medical personnel to better-organised global settings, leaving the remaining healthcare workers in government-owned hospitals to be overstretched. The National President of PAN, Dr Olufemi Ogunrinde, said at the opening ceremony of the association’s four-day annual general meeting and scientific conference in Akure themed Optimising Child Healthcare In Nigeria Despite Current Socio-Economic Challenges, noting that “available data shows that the country has less than one doctor to 3,000 patients, while there are 1.5 nurses to 1,000 patients.” Dr Ogunrinde said Nigeria’s maternal mortality ratio

By Modupe Gbadeyanka The value of equities listed on the Nigerian Stock Exchange (NSE) increased on Friday by N64.5 billion despite the volume of shares traded by investors going down. Business Post reports that a total of 535.3 million shares worth N3.6 billion exchanged hands today in 6,054 deals in contrast to the 630.6 million units sold yesterday in 7,079 deals valued at N3.4 billion. It was gathered that bargain-hunting activities dominated the market, settling the stock market further in the green zone by 0.40 percent and leaving the year-to-date return at 16.73 percent. There was an increase in the

By Dipo Olowookere All is set for the 2019 edition of a Business and Family Fair organised by a group known as Mums in Business. The programme is taking place on Saturday, April 27, 2019 at Fountain Gardens Ilupeju from 9am. According to the organisers, there would be a lot of freebies during the fair from Airtel Nigeria, So Fresh, Artsmith Jewelries and others. Also, officials of FCMB Trustees would be on ground at the fair to give free lectures on finances especially savings and investments, while those from ADRON Homes and Properties will give participants useful hints on how

By Modupe Gbadeyanka Lagos State Governor, Mr Babajide Sanwo-Olu, has reacted to claims made by the state’s chapter of the opposition Peoples Democratic Party (PDP), which alleged that he withdrew $470 million to take himself and some chieftains of the ruling All Progressives Congress (APC) to watch the Nigeria-Cameroon match at the ongoing African Cup of Nations (AFCON) in Egypt. In a statement issued by the statement government, the Governor said there was no iota of truth in the allegation, emphasising that he was among those selected by President Muhammadu Buhari to cheer up the Super Eagles at the tournament.

By Adedapo Adesanya The NASD Over-the-Counter (OTC) Securities Exchange improved by 0.12 per cent on Wednesday, September 20, with the unlisted securities index expanding by 1.00 points to end the day at 806.29 points as against the 805.29 points it recorded at the previous session. During the trading day, the market capitalisation of the alternative stock exchange increased by N1.42 billion to close at N1.139 trillion compared with Tuesday’s closing value of N1.138 trillion. It was observed that the bulls overcame the bears on Wednesday, with the bourse closing with three price gainers and two price losers. Aradel Holdings Plc